A strong support situated at 1.5876 (200 day ma) is expected to continue to cap the price from above, while the bias of the Cable remains bearish. In the short-term 1.5650/43 is in focus, followed by 1.5581 and 1.5500.
Despite a recent failure of EUR/JPY near 108.75, formidable support at 106.37 should manage to contain dips. Afterwards we are likely to observe a recovery of the pair from the latter level. Rally should be able to extend beyond 108.75, up to 109.32/58 (55 week ma).
Being that EUR/USD's growth will be halted by resistances located at 1.3285/91, 1.3325 and 1.3389, the outlook remains negative. The initial target lies at 1.2974/54, while a long-term goal is at 1.2624.
The pair slumped below the 0.90 level as the US trade balance deficit widened more than forecast (-52.6B act./-48.9B est.).
The pair climbed further today, breaking through the 82.00 level as US non-farm employment increased, beating analysts' estimates (227K act./209K est.).
The British pound strengthened today versus the American dollar as the UK monthly PPI input rose more than expected (2.1% act./0.9% est.).
EUR/JPY commenced a bullish reversal today as all Greek bondholders agreed to accept losses on the Greek bonds.
The pair advanced today as the German trade balance widened more than expected and the Greek debt deal prevented Greece from immediate default.
USD/CHF went into a nosedive below 0.9088 and may slide even lower, down to 0.8931, where it is anticipated to recommence recovering. Resistances are located at 0.9162, 0.9203 and 0.9253/63.
As long as a key support at 80.76 manages to repel dips of USD/JPY currency pair, the short- and long-term outlooks should stay bullish. The pair is likely to find resistances at 81.87/90, 82.08 and 82.23.
While rallies are contained by resistances which lie at 1.5881 (200 day ma), 1.5927 and 1.6000, the Cable is expected to decline in weeks to come. The initial support should be encountered at 1.5670, followed by 1.5650/43.
The currency couple carries on advancing further. After it has overcome a resistance located at 108.75, EUR/JPY should focus on attaining 109.38/58 (55 week ma). Subsequent levels are situated at 110.26 and 111.57.
EUR/USD has been able to extend its rally from 1.3087 due to the absence of formidable resistances on its path. However, a level at 1.3322/50 is unlikely to give in, thus keeping long-term bearish bias intact.
USD/CHF declined today as investors were disappointed as the US unemployment claims rose more than expected (362K act./352K est.).
USD/JPY moved upwards today as Japan's current account suprlus shrunk more than expected (0.12T JPY act./0.33T JPY est.).
The British pound rebounded today as the Bank of England kept the present benchmark rate at 0.5% and continued quantitative easing program.
EUR/JPY commenced a bearish correction today on strengthening German industrial production and as economy watchers sentiment in Japan weakened (45.9 act./46.3 est.), causing the pair to hit the daily forecast mean at 106.44.
EUR/USD rallied today and traded above the 1.32 level as German monthly industrial production improved more than expected (1.6% act./1.1% est.).
The Greenback is likely to recommence strengthening against the Swiss Franc, as USD/CHF has already formed a base at 0.8931. Bullish targets lie at 0.9253 (55 day ma) and at 0.9317, while 0.9088 and 0.9075 underpin the pair from below.
A formidable level at 80.54 is unlikely to give away in the nearest future, as it is supported by 80.42, 80.00 and 79.55. Consequently, the outlook is from neutral to positive, allowing for the pair to attain 81.49 within the day.
Being that the Cable has breached an uptrend support, the dip is expected to extend down to 1.5650/43. Resistances are situated at 1.5886 (200 day ma) and 1.6000, they should contain intraday rallies.
Support at 105.85 has repelled off EUR/JPY, which is now advancing toward 108.00. In case the latter level is penetrated, the pair may reach 108.75 (55 week ma) next. Subsequent resistances are located at 109.38/58 and 110.26.
"As the [participation] number rises, the odds of something terrible happening diminishes. That will naturally be euro positive"- Faros Trading (based on WSJ)Industry outlookThe currency pair has bounced off a support at 1.3096 and is currently climbing higher. Nonetheless, this rally is likely to be short-lived, since most of the daily indicators are pointing to the downside - 1.2974/54 first,
The pair pierced the daily forecast mean (0.9171) as ADP non-farm payrolls rose more than expected (216K act./204K est.).